Table of Contents Table of Contents
Previous Page  17 / 18 Next Page
Show Menu
Previous Page 17 / 18 Next Page
Page Background





The African Forum of Independent Accounting and Auditing

Regulators (AFIAAR) adopted its vision and strategy for the future of

independent accounting and auditing regulation on the continent at

a two-day meeting recently held in Maputo, Mozambique.

AFIAAR chairman Admire Ndurunduru of the Public Accountants’

and Auditors’ Board in Zimbabwe welcomed delegates to the first

meeting of member countries since the AFIAAR Charter was signed.

He introduced Professor Mario Sitoe, the President of the Institute

of Chartered Accountants and Auditors Mozambique (OCAM) who

delivered an opening address on behalf of the host country.

“AFIAAR is a young institution with the intention to promote joint

effort in strengthening audit and accounting on the continent. We

are very grateful to be the host and are committed to transparency

in the interest of economic growth. Our profession has a big

responsibility as it allows economies and companies to contribute

towards prosperity for the country. Mozambique is a member of this

platform and intends to collaborate and be part of this one voice on

the continent,” said Prof Sitoe.

According to Mr Ndurunduru, the AFIAAR achieved the objectives

of the first working meeting, and these were to develop and adopt

a vision for Africa, agree to and adopt a market strategy for the next

two years and establish working groups in each of the key work

streams to propose and plan activities that will contribute towards

the objectives of the forum.

“Against the battered image of the profession, it is important to

recognise that things do not change unless we change them,” he

said. “It is vital that all members actively participate and get involved

in building AFIAAR as a credible institution which will instil the much

needed confidence in the accounting and auditing profession.

Oversight bodies, together with the profession, must promote

transparency and effectiveness and support each other and our

governments in the fight against corruption.”

AFIAAR vice-chairman and IRBA CEO Bernard Agulhas noted the

following: “AFIAAR has already achieved significant milestones,

such as formulating and signing our charter at its inaugural meeting.

Founding members play a critical role in keeping the momentum of

such an organisation and driving its initiatives forward, so we are

pleased that eight of the 11 founding country members were present

and gave input into the two-year strategy that was unanimously

adopted. This bodes well for the continental integration of audit

and accounting oversight in Africa, as well as improved financial

reporting and governance, which must create confidence in our

capital markets and ultimately contribute towards economic growth

in participating countries.”

CONTINENTAL INTEGRATION: Delegates at the AFIAAR meeting held in Mozambique, where further progress

was made on the objectives of the forum.

Issue 43 | July-September 2018